A board member is a top-level job that involves serving as a fiduciary on behalf of an organization. The primary duties of a board are governance, oversight and accountability, as well as setting a clear strategic direction. The board also has an exceptional opportunity to contribute to the mission of your organization. in your local https://boardshould.com/who-needs-a-seat-on-your-strategic-planning-team/ community, and can have a significant impact on the lives of individuals and organizations.
In a publicly held company, the board represents the owners (shareholders or stockholders) and sets policy that determines issues such as whether or not to pay dividends, the size of the dividend, stock options granted, and hiring/firing/compensation of upper management. In reality, it is upper management and not the board that holds most of the practical power, with directors typically following the management’s advice and approving them.
When selecting candidates to join your board, it’s vital to find people with the appropriate competencies in addition to the character and experience required for the job. Competence is the ability to tackle complicated problems and make sound decisions. Character is a reflection on the values of your business. The way you select people who reflect these values will tell you the character of your company.
The best place to look for potential candidates is through your network. Ask a trusted member of your community or network group for connections to the executive director or board. Introduce yourself and explain why you’re interested in joining the board and what your performance is regarding showing up and preparing for meetings.